2023 Key Business Highlights:
As at
In 2023 & the beginning of 2024, efforts have been underway to expand CapitalCube's enterprise B2B customer base through project bids, increased sales efforts and market validation product interviews;
MarketWall's license agreement with
In 2023, as part of Marketwall's B2C strategy, the InvestoPro GO trading platform launched a new mobile app purposefully designed for
As at
2023 Key Financial Highlights:
For the year ended
The decline in revenues is entirely attributed to the decrease in
For the year ended
Management Commentary
'2023 saw consistently strong financial results from Marketwall showing a trajectory for continued profitability and growth, strengthened with the renewal of the licensing agreement with
In addition, as stated in the Company's press release dated
For more information about the Interim Orders, please refer to the Court's reasons and the Company's press release dated
As disclosed by the Company in a press release dated
In anticipation of the Annual Filings Default, the Company previously applied to the
The Company intends to continue to make every effort to complete the Required Interim Filings as soon as possible. In that regard, the Required Annual Filings were filed today and the Company was able to confirm its 2024 opening balances. Copies of the Required Annual Filings are available on the Company's SEDAR+ profile at www.sedarplus.ca. Subject to the work of the Court-ordered inspector and any further determinations of the Court, the Company will continue to make every effort to be in a position to make the Required Interim Filings on or prior to
Other than as set out herein, the Company confirms that (a) there have been no changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor, (b) the Company believes that there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203, (c) there is no anticipated specified default (as such term is defined in NP 12-203) subsequent to the Default, and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
Should the Company fail to make the Required Interim Filings on or before
The Company intends to continue to comply with the alternative information guidelines set out in NP 12-203 until the Required Interim Filings are made, including by issuing bi-weekly default status reports in the form of further news releases.
The issuance of this news release has been approved by the Board, and more specifically Messrs. Veeravalli (independent), Kadar (independent), and Gardner (independent).
About
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute 'forward-looking information' within the meaning of applicable securities laws and the respective policies, regulations and rules under such laws ('forward-looking statements'). These forward-looking statements generally are identified by words such as 'anticipate', 'expect', 'intend', 'will' and similar expressions, although not all forward-looking statements contain these identifying words. Specific forward-looking statements in this news release include, but are not limited to, statements regarding: (a) the Company's ability to rebrand and reposition its strategy; (b) the completion and filing of the Required Interim Filings and the expected timeframe for doing so (c) the Interim Orders and the anticipated consequences thereof; (d) the duration of the MCTO and the potential imposition of a cease trade order that all trading in securities of the Company cease for such period of time as the OSC may deem appropriate; and (e) the availability or suitability of potential funding options to address the Company's funding needs. Although the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release including, without limitation, the risk that the Company may not be able to make the Required Interim Filings within the anticipated timeframe or at all, the risk that the Court-ordered inspector may uncover additional issues and/or may not be completed in a timely manner or at all, the risk that the issues to be addressed by the Interim Orders and the Court-ordered inspector are not resolved in a timely manner or at all, the risk that funding options are not available to the Company, on reasonable terms or at all, to address its funding needs, the risk that the Court-ordered inspector may uncover additional issues and/or may not be completed in a timely manner or at all, the risk that the OSC imposes a cease trade order that all trading in securities of the Company cease for such period of time as the OSC may deem appropriate, the risk of further Court proceedings and the impact thereof, and the risk that the Company is not able to rebrand or reposition its strategy, successfully or otherwise. Additionally, there are uncertainties inherent in forward-looking information, including factors beyond the Company's control. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary note. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
Regulatory Statements
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
Contact:
Interim CEO
natalie.hirsch@analytixinsight.com
Tel: 647-955-2933
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